2 Polished: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
2 Polished
Largest movements
- Cash +€49,307
up €49,307 (+412.5%), from €11,954 to €61,261
mainly Debts after one year (+€34,921) and Net result for the year (+€8,159)
- Tangible fixed assets -€9,299
down €9,299 (-34.0%), from €27,383 to €18,083
of which Furniture and vehicles: -€13,695
- Stocks and contracts +€6,442
up €6,442 (+863.8%), from €746 to €7,188
- Receivables within one year -€2,042
down €2,042 (-49.5%), from €4,125 to €2,083
- Debts after one year +€34,921
up €34,921 (+136.1%), from €25,663 to €60,584
of which Financial debts: +€30,000
- Reserves +€8,159
up €8,159 (+329.4%), from €2,477 to €10,636
- Other debts -€5,930
no longer reported in 2025 (was €5,930)
- Current portion of long-term debt +€4,399
new in 2025: €4,399
- Tax, wage and social debts +€3,325
up €3,325 (+99.1%), from €3,357 to €6,682
of which Taxes: +€2,325
- Depreciation -€4,663
down €4,663 (-56.2%), from €8,293 to €3,630
- Gross operating margin +€2,274
up €2,274 (+18.6%), from €12,215 to €14,489
- Taxes +€1,103
up €1,103 (+101.4%), from €1,088 to €2,191
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,332 | €88,615 | +€44,283 | +99.9% |
| Fixed assets | 21/28 | €27,383 | €18,083 | -€9,299 | -34.0% |
| Tangible fixed assets | 22/27 | €27,383 | €18,083 | -€9,299 | -34.0% |
| Plant, machinery and equipment | 23 | €6,815 | €6,725 | -€90 | -1.3% |
| Furniture and vehicles | 24 | €20,204 | €6,509 | -€13,695 | -67.8% |
| Other tangible fixed assets | 26 | €364 | €4,849 | +€4,486 | +1234.0% |
| Current assets | 29/58 | €16,949 | €70,532 | +€53,583 | +316.1% |
| Stocks and contracts in progress | 3 | €746 | €7,188 | +€6,442 | +863.8% |
| Stocks | 30/36 | €746 | €7,188 | +€6,442 | +863.8% |
| Amounts receivable within one year | 40/41 | €4,125 | €2,083 | -€2,042 | -49.5% |
| Trade receivables | 40 | €4,125 | €2,083 | -€2,042 | -49.5% |
| Cash at bank and in hand | 54/58 | €11,954 | €61,261 | +€49,307 | +412.5% |
| Deferred charges and accrued income | 490/1 | €124 | - | -€124 | |
| Total equity and liabilities | 10/49 | €44,332 | €88,615 | +€44,283 | +99.9% |
| Equity | 10/15 | €4,477 | €12,636 | +€8,159 | +182.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €2,477 | €10,636 | +€8,159 | +329.4% |
| Distributable reserves | 133 | €2,477 | €10,636 | +€8,159 | +329.4% |
| Amounts payable | 17/49 | €39,855 | €75,980 | +€36,125 | +90.6% |
| Amounts payable after more than one year | 17 | €25,663 | €60,584 | +€34,921 | +136.1% |
| Financial debts | 170/4 | - | €30,000 | +€30,000 | |
| Other amounts payable | 178/9 | €25,663 | €30,584 | +€4,921 | +19.2% |
| Amounts payable within one year | 42/48 | €14,192 | €15,396 | +€1,204 | +8.5% |
| Current portion of amounts payable after more than one year | 42 | - | €4,399 | +€4,399 | |
| Trade debts | 44 | €4,905 | €4,315 | -€590 | -12.0% |
| Suppliers | 440/4 | €4,905 | €4,315 | -€590 | -12.0% |
| Taxes, remuneration and social security | 45 | €3,357 | €6,682 | +€3,325 | +99.1% |
| Taxes | 450/3 | €3,357 | €5,682 | +€2,325 | +69.3% |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €5,930 | - | -€5,930 | |
| Non-recurring operating income | 76A | - | €6,748 | +€6,748 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,293 | €3,630 | -€4,663 | -56.2% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €12,215 | €14,489 | +€2,274 | +18.6% |
| Operating profit (loss) | 9901 | €3,804 | €10,738 | +€6,934 | +182.3% |
| Financial income | 75/76B | €74 | €9 | -€64 | -87.4% |
| Recurring financial income | 75 | €74 | €9 | -€64 | -87.4% |
| Financial charges | 65/66B | €312 | €398 | +€85 | +27.3% |
| Recurring financial charges | 65 | €312 | €398 | +€85 | +27.3% |
| Profit (loss) for the period before taxes | 9903 | €3,565 | €10,350 | +€6,785 | +190.3% |
| Income taxes | 67/77 | €1,088 | €2,191 | +€1,103 | +101.4% |
| Profit (loss) for the period | 9904 | €2,477 | €8,159 | +€5,682 | +229.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,477 | €8,159 | +€5,682 | +229.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.